Endologix Enters Exclusive Distribution Agreement with Boston Scientific for China Market

IRVINE, Calif., Aug. 13, 2019 /PRNewswire/ -- Endologix, Inc. (NASDAQ: ELGX), a manufacturer of innovative treatments for aortic disease, today announced an agreement authorizing Boston Scientific Corporation (NYSE: BSX) as the exclusive distributor of Endologix products in China. This long-term agreement covers distribution rights for Endologix's existing endovascular aneurysm repair (EVAR) and endovascular aneurysm sealing (EVAS) products, as well as priority negotiation rights for future Endologix product offerings.

“We are delighted to partner with Boston Scientific to provide next-generation abdominal aortic aneurysm solutions for patients in China,” said John Onopchenko, CEO of Endologix. “China is one of the largest and fastest-growing EVAR markets globally, presenting exciting opportunities for Endologix. We look forward to leveraging the deep expertise of the Boston Scientific team to bring more new products to patients with vascular diseases, helping our brand break new ground in this important market.”

The burden of vascular disease in China is increasing day by day, becoming a major public health issue. Endovascular aneurysm repair and endovascular aneurysm sealing provide better solutions for aortic aneurysm diseases. Ms. Zhang Jun, Vice President and General Manager of Greater China at Boston Scientific, stated: "Introducing abdominal aortic products to Boston Scientific China will further enrich Boston Scientific's product line in the peripheral and oncology intervention fields. We look forward to this innovative product supporting the development of minimally invasive diagnosis and treatment in China. In the future, Boston Scientific will continue to uphold its original intention of 'innovating for life,' collaborate with partners in the industry ecosystem to achieve mutual benefits, and accelerate the introduction of innovative products in China."

Under the agreement, Boston Scientific plans to invest in establishing a dedicated sales team to drive the commercialization and broad adoption of Endologix products. In addition, Endologix will provide commercial and clinical support and training to the Boston Scientific team to ensure optimal clinical outcomes. Following receipt of local regulatory approvals and the initial market launch of its first product, Boston Scientific expects to begin selling these products in 2021.

Endologix’s current product portfolio includes the Ovation® iX Abdominal Stent Graft and the AFX2® Endovascular AAA System, both of which are minimally invasive solutions for aneurysm repair and have received approval from the U.S. Food and Drug Administration (FDA) as well as CE marking in the European Union.

About Endologix

Endologix develops and manufactures minimally invasive medical devices for the treatment of aortic diseases. The company’s core product is an endovascular stent graft for the treatment of abdominal aortic aneurysms (AAA). The aorta is the largest artery in the human body, and an abdominal aortic aneurysm is a weakening of the aortic wall that leads to a balloon-like bulge. Once an abdominal aortic aneurysm develops, it continues to expand and, if left untreated, becomes increasingly prone to rupture. In the United States, ruptured abdominal aortic aneurysm is a leading cause of death, with an overall patient mortality rate of approximately 80%. For more detailed information, please visit the Endologix website.www.endologix.com。

Cautionary Statement Regarding Forward-Looking Statements

In addition to the historical information contained herein, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified by the use of words such as “anticipate,” “expect,” “may,” “can,” “will,” “believe,” “estimate,” “predict,” “target,” “project,” “continue,” “outlook,” “guidance,” “future,” and other words with similar meanings, as well as references to future dates. Forward-looking statements in this press release include: Endologix’s plans to use the Nellix System at approved centers in clinical study settings outside the United States; the use of the Nellix System to improve patient experience and drive better outcomes; and Endologix’s statement that it expects the recovery will not impact the previously announced 2019 financial guidance. The accuracy of these statements is necessarily subject to risks and uncertainties that could cause Endologix’s actual results to differ materially from the forward-looking statements in this press release or to have a negative impact. Some potential risks and uncertainties that could cause actual results to differ materially from expected results include: ongoing market acceptance, continued market acceptance, recognition, and use of Endologix’s products, successful clinical trials related to the Endologix Nellix System and other products, product development efforts, uncertainties in obtaining and maintaining regulatory approvals for Endologix’s products, including CE Marking in the European Union and approvals from similar regulatory bodies, Endologix’s ability to continue to access capital markets, Endologix’s ability to protect its intellectual property and proprietary technology, and other economic, business, competitive, and regulatory factors. The forward-looking statements contained in this press release are valid only as of the date of this press release. Endologix assumes no obligation to update or revise any forward-looking statements contained in this press release for new information, events, or circumstances after the date of the press release or for the occurrence of unanticipated events. Please refer to Endologix’s filings with the U.S. Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2018, and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2019, for additional information regarding risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied.